Two-step multi-criteria model for selecting optimal portfolio

In spite of a large number of multi-criteria models applied to solve the problem of optimal portfolio selection and a large number of market criteria and accounting criteria proposed for these models, the problem of portfolio containing securities from different industries has not yet been adequately solved. Namely, neither can stocks of companies from different industries be compared using the same criteria nor can the weight of a particular criteria be equal for them all. Therefore this paper develops a new two-step model that will overcome the shortcomings of the previously used models. The model is divided into two different but related pillars: the choice of different industries to form the overall portfolio and the choice of portfolio for each industry. The multi-criteria model used in this paper is a modified multi-criteria programming model based on the PROMETHEE II approach. The selected model has been applied at the Zagreb Stock Exchange (ZSE) as a real case.     

Entrepreneurs’ creativity and firm innovation: the moderating role of entrepreneurial self-efficacy

There are several studies in entrepreneurship investigating determinants of innovation outcomes in SMEs. Although entrepreneurs’ entrepreneurial creativity is often seen as a prerequisite, previous research indicates it is not an exclusive determinant of innovation. We use theoretical logics of social cognitive theory and innovation theory to develop a conceptual model of entrepreneur’s creativity, self-efficacy, and innovation outcomes. The model is then tested on a large sample of small and medium firms from two distinct economies: the United States and Slovenia. Empirical findings partially support the proposed moderation effects of entrepreneurial self-efficacy, but with the same variations between countries. The implications of these results in relation to entrepreneurship theory and practice are discussed.     

Agricultural mechanization and reduced tillage: antagonism or synergy?

This paper reviews agricultural mechanization and reduced tillage use in the context of sustainable intensification in developing country agriculture. The scoping review includes selected and contrasting cases – including Zimbabwe (manual systems), Bangladesh (2-wheel – single axle tractor systems), India (4-wheel – i.e. 2 axles tractor systems), Kazakhstan (mechanized systems) and Brazil (diverse systems). The expansion of reduced tillage appears strongly associated with the level of agricultural mechanization – facilitated by a number of common drivers and contextualized by the prevailing farm power and intensity of tillage. Soil conservation, timely planting and farm power savings in crop establishment are important drivers for the expansion of reduced tillage across the world, facilitated by conducive markets, institutional and policy environments and the integration of diverse actors to introduce, adapt and promote the necessary components.